Prime Minister Shehbaz Sharif on Wednesday described Pakistan and Kuwait as “brotherly countries bound by decades of strong relations” while addressing the licence issuance ceremony of Raqami Islamic Digital Bank, terming the development a milestone for digital Islamic banking and financial inclusion in Pakistan.
Speaking at the ceremony, the prime minister said the launch of the digital Islamic bank reflected growing economic cooperation between the two nations and underscored Pakistan’s commitment to modernising its financial sector through technology-driven solutions.
He noted that digital banking platforms could play a transformative role in expanding access to Shariah-compliant financial services, particularly for underserved and unbanked segments of the population.
The establishment of Raqami Islamic Digital Bank marks a significant step in Pakistan’s broader push toward digitisation of financial services, in line with the government’s agenda to promote innovation, transparency and inclusive economic growth.
Officials said digital Islamic banking is expected to reduce operational costs, improve accessibility and support small businesses and individuals seeking interest-free financial products.
Prime Minister Shehbaz reiterated that Pakistan values its longstanding ties with Kuwait and welcomed further investment in the country’s banking and technology sectors.
The ceremony was attended by senior government officials, regulators and representatives from the banking industry.
